Cablevision wants to reduce debt by $1.5-1.8B by the
end of the year, according to Jon Elsen of the N.Y. POST.
The company also announced "a streamlining of operations,"
which included NBC restructuring its investment in
Cablevision so that it will own a 25% stake in Rainbow
Programming Holdings division. Elsen notes possible new
partners for Cablevision include CBS, Liberty Media, Fox and
GTE (N.Y. POST, 3/22).
NEWS & NOTES: Time Warner Vice Chair Ted Turner is
profiled by Eben Shapiro in today's WALL STREET JOURNAL
under the header, "Ted's Way: Brash As Ever, Turner Is
Giving Time Warner Dose of Culture Shock." Shapiro notes
Turner "is turning up the heat" on the "fledgling WB
Network." The network has had start-up losses of more than
$165M and "isn't slated to turn a profit until the year 2000
-- and now its original strategic reason for existing is
diminished since Time Warner has its own popular outlets in
Turner's TBS and TNT." Turner, on the WB Network: "It's
losing a lot of money by my standards" (WALL STREET JOURNAL,
3/24)....GE CEO Jack Welch was profiled by Frank Swoboda in
the WASHINGTON POST. Welch: "Today's CEO in 1997 knows it's
the beginning of a career, that the battles are just
beginning. No one can come to work and sit, no one can go
off and think of just policy ... You've got to be live
action all day. And you've got to be able to energize
others. You cannot be this thoughtful, in-the-corner-office
guru ... you cannot be a moderate, balanced, thoughtful,
careful articulator of policy. You've got to be on the
lunatic fringe" (WASHINGTON POST, 3/23)....USA TODAY's David
Lieberman notes that in reaction "to a series of major
deals, News Corp. shares have skidded sharply in March, and
Friday set a 52-week low." Shares are down 22% since late
February to Friday's close of $18.75 (USA TODAY, 3/24).
